About this month’s Cash Shiller:
The Home Price Index showed prices continued to increase. The National Index grew 7.1% in Q2, and 10.1% over the past year. The 10-City and 20-City Composites posted returns of 2.2% for June and 11.9% and 12.1% over 12 months. All 20 cities posted gains on a monthly and annual basis
Note the mortgages that fund these homes were likely locked in at rates that considerably lower than today. They pre-dated the large interest rate spike of the summer. Its reasonable to assume these rate hikes will impact sales and prices going forward.
Source: S&P Case Shiller Index
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.